Guideline Value for Balaji Avenue 2

Balaji Avenue 2 guideline value

The current guideline value of Balaji Avenue 2 is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - II.

How the guideline value of Balaji Avenue 2 has changed

The guideline value for Balaji Avenue 2 has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 2,500 per sq.ft. In 2017, this value decreased to Rs 1,675 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, an increase of 10% from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, comparing the figures from 2012 to 2024, there has been a net increase of 10% in the guideline value.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with a 2024 guideline value range from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Balaji Avenue 2's guideline value above this median.

• Balaji Avenue 1: Rs 2,750 per sq.ft (2024)
• Balaji Avenue 3: Rs 2,750 per sq.ft (2024)
• Balaji Avenue Extn: Rs 1,650 per sq.ft (2024)
• Balaji Avenue Ist Cross Street: Rs 1,650 per sq.ft (2024)
• Bakyalakshmi St: Rs 1,650 per sq.ft (2024)
• Bakyalakshmi Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Avenue 2

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details on fees applicable to your property.

Which Sub Registrar Office covers Balaji Avenue 2?

The Sub Registrar Office that covers Balaji Avenue 2 is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Chitlapakkam

The guideline value is a critical factor when registering property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction reflects a fair value in accordance with government regulations.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential components of the transaction process. Buyers should be aware that the fees are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Balaji Avenue 2?

The current guideline value of Balaji Avenue 2 is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Balaji Avenue 2?

For a 1,000 sq.ft plot, the total guideline value is Rs 27,50,000. The stamp duty at 7% is Rs 1,92,500, and the registration fee at 2% is Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office covers Balaji Avenue 2?

The Tambaram Joint 1 Sub Registrar Office covers Balaji Avenue 2, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the guideline value determined in Chitlapakkam?

The guideline value in Chitlapakkam is determined by the Registration Department's guideline value register, which takes into account various factors, including land classification and location.